Lithium Americas (Argentina) Corp. (NYSE:LAAC) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lowered its stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) by 16.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 346,400 shares of the company’s stock after selling 68,000 shares during the period. Intact Investment Management Inc. owned approximately 0.21% of Lithium Americas (Argentina) worth $1,104,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Scotia Capital Inc. purchased a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth about $2,245,000. Private Advisor Group LLC purchased a new stake in Lithium Americas (Argentina) during the fourth quarter worth approximately $152,000. M&G Plc acquired a new stake in shares of Lithium Americas (Argentina) in the first quarter worth $5,944,000. FIFTHDELTA Ltd purchased a new position in shares of Lithium Americas (Argentina) in the 4th quarter valued at $32,598,000. Finally, Formidable Asset Management LLC acquired a new position in shares of Lithium Americas (Argentina) during the 4th quarter valued at $3,511,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

Analyst Upgrades and Downgrades

LAAC has been the subject of several recent research reports. Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a report on Wednesday, August 14th. National Bank Financial upgraded Lithium Americas (Argentina) to a “hold” rating in a report on Wednesday, June 5th. Stifel Nicolaus reduced their price target on Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. National Bankshares set a $6.00 price objective on shares of Lithium Americas (Argentina) and gave the company a “sector perform” rating in a research report on Thursday, June 6th. Finally, HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lithium Americas (Argentina) has a consensus rating of “Moderate Buy” and an average price target of $8.21.

Lithium Americas (Argentina) Stock Performance

Shares of LAAC remained flat at $2.64 during trading on Friday. The company’s stock had a trading volume of 848,358 shares, compared to its average volume of 1,451,454. The company has a market cap of $425.65 million, a P/E ratio of 0.33 and a beta of 1.35. The business’s fifty day moving average price is $2.90 and its two-hundred day moving average price is $4.13. Lithium Americas has a one year low of $2.26 and a one year high of $8.79.

Lithium Americas (Argentina) Profile

Lithium Americas (Argentina) Corp. operates as a resource company. The company explores for lithium deposits. The company owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina. It also has a pipeline of development and exploration stage projects, including the Pastos Grandes project and the Sal de la Puna project located in Salta Province in northwestern Argentina.